LONDON, Feb. 10, 2021 /PRNewswire/
-- Capitalab, a division of BGC Brokers LP, an entity
within the BGC Partners, Inc. (NASDAQ: BGCP) group of companies,
has been named the winner of the 2021 OTC Infrastructure Service of
the Year award by Risk.net, the financial industry's leading
publication for in-depth news and analysis on risk management,
derivatives and regulation.
In 2020, Capitalab expanded many of its key multilateral
optimisation offerings, including the addition of a discount rate
labelling service to its interest rate option compression product,
the inclusion of LCH SwapAgent-settled swaptions and cross currency
basis swaps within its Rates Initial Margin Optimisation service,
and the launch of its FX Forward compression and optimisation
service, in conjunction with leading FX market infrastructure
CLS.
In the editorial write-up accompanying the awards, the editors
remarked, "Capitalab has played a major role in the non-cleared
swaptions market since launching its swaptions compression service
in 2015. Its latest solution aimed to eliminate the uncertainty
hanging over €300 billion of swaptions notional via so-called
bilateral zero compression runs, which saw offsetting trades with
non-specified discount rates changed to reference €STR-discounted
swaps. This removed uncertainty on the newly labelled trades
without any P&L impact."
David Bachelier,
Capitalab's Singapore-based
co-founder, commented, "We are honoured to have been chosen by our
clients and the industry for this award, six years after starting
our journey to answer financial institutions' needs in the vibrant
capital optimisation space."
Gavin Jackson, Capitalab's
London-based co-founder, added, "A
huge thank you to all our valued clients for your kind words of
support and recognition for this award."
Risk.net also noted Capitalab's risk optimisation services for
multilateral non-deliverable forward and FX forward reset risk
optimisation runs, Capitalab NDF Match. Launched in 2017 to help
clients manage their NDF fixing risk via a web-based system, the
platform enables traders to update their positions in real-time,
making the experience more bespoke, less time-consuming and more
user-friendly. Capitalab NDF Match's increased market share
offers good sources of liquidity, and on the back of client demand,
have expanded the number of matching runs each week allowing
clients more opportunities to manage their NDF fixing risk.
Sam Bussey, Global Head of
FX and NDF Reset Risk Management at Capitalab, said, "In the face
of competition, we are extremely grateful for the continued support
from our clients over the last three and a half years, and for the
kind feedback during that time, and in the lead-up to this
award."
Capitalab received the OTC Infrastructure Service of the Year
award at the Risk Awards 2021 virtual ceremony in February 2021. The full report on Capitalab's
award can be downloaded at Risk.net
About Capitalab
Capitalab, a division of BGC Brokers
L.P., provides compression services that are designed to bring
greater capital and operational efficiency to the global
derivatives market. It assists clients in managing the growing cost
of holding derivatives, while helping them to meet their regulatory
mandates. Through the Swaptioniser® service for portfolio
compression of Interest Rate Swaptions, Interest Rate Swaps, Caps
and Floors, Equity options, FX and FX Options, as well as Initial
Margin Optimisation service and fully automated trade processing,
Capitalab looks to simplify the complexities of managing large
quantities of derivatives to promote sustainable growth and lower
systemic risk and to improve resiliency in the industry. Capitalab
is part of the Fenics' division of BGC Partners, Inc. BGC Brokers
L.P. is authorised and regulated by the UK Financial Conduct
Authority and is based in London.
BGC Brokers LP is a subsidiary of BGC Partners, Inc. (NASDAQ:
BGCP), a leading global brokerage and financial technology
company.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC specializes
in the brokerage of a broad range of products, including fixed
income (rates and credit), foreign exchange, equities, energy and
commodities, shipping, insurance, and futures. BGC also provides a
wide variety of services, including trade execution, brokerage,
clearing, trade compression, post-trade, information, and other
back-office services to a broad range of financial and
non-financial institutions. Through brands including Fenics, BGC
Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers
financial technology solutions, market data, and analytics related
to numerous financial instruments and markets. BGC, BGC Trader,
GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are
trademarks/service marks and/or registered trademarks/service marks
of BGC Partners, Inc. and/or its affiliates.
BGC's customers include many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, and investment firms. BGC's Class A
common stock trades on the NASDAQ Global Select Market under the
ticker symbol "BGCP". BGC Partners is led by Chairman of the Board
and Chief Executive Officer Howard W.
Lutnick. For more information, please visit
http://www.bgcpartners.com. You can also follow BGC at
https://twitter.com/bgcpartners,
https://www.linkedin.com/company/bgc-partners and/or
http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical
facts are "forward-looking statements" that involve risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements. These include
statements about the effects of the COVID-19 pandemic on the
Company's business, results, financial position, liquidity and
outlook, which may constitute forward-looking statements and are
subject to the risk that the actual impact may differ, possibly
materially, from what is currently expected. Except as required by
law, BGC undertakes no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see BGC's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
Media contact:
Harjeet
Singh
+44 207-894-8829
Investor Relations contact:
Jason Chryssicas
+1 212-610-2426
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SOURCE BGC Partners, Inc.